ARTICLE · 02 DECEMBER 2021

Monthly Newsletter November 2021

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The Arbitration and Conciliation Act, 1996 ("Act") governs all commercial arbitrations, domestic and international, in India. However, while investment treaty arbitrations are guided by the...

IndiaLitigation, Mediation & Arbitration

Aditi Mane

THE ENFORCEMENT OF INTERNATIONAL INVESTMENT ARBITRATIONS IN INDIA

INTRODUCTION

The Arbitration and Conciliation Act, 1996 ("Act") governs all commercial arbitrations, domestic and international, in India. However, while investment treaty arbitrations are guided by the institutional choice and seat, the manner of enforcement of investment treaty arbitral awards ("ITAs") in India remains unanswered.

The issue of enforcement of ITAs in India arises, as India is not a signatory to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, 1965 ("ICSID Convention").

Consequently, India is not covered by the ICSID arbitration framework, which stipulates the manner of enforcement of signatory parties. This issue further gained prominence post the successful awards recently passed in favour of Vodafone and Cairn, against India.

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